The board of Jet Airways will meet on Thursday to consider the third-quarter results amid a buzz that the crisis-hit airline may announce cash infusion by lenders, led by the State Bank of India (SBI).
Optimism on this front saw the Jet stock ending with gains of 1.25 per cent at Rs 223.60 on the BSE on Wednesday. The green tick in the counter came on a day the benchmark Sensex finished lower by almost 120 points at 36034.11. Meanwhile, Bloomberg reported that the airline may get an emergency loan of around Rs 600 crore to help it overcome the cash crunch.
Earlier this month, the airline had disclosed that four of its aircraft have been grounded over the non-payment of lease rentals. The company had then said it was engaged with all its aircraft lessors and was providing them with regular updates on efforts undertaken to improve its liquidity. It is also providing updates to the DGCA on the schedule of flights to be operated. The Jet Airways group has a fleet of 124 planes, including Boeing 777-300 ERs, Airbus A330-200/300 and ATR 72-500/600s.
